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Article: THWAITES (DANIEL) PLC - Disposal.
- Article from:
- PR Newswire UK Disclose
- Article date:
- September 17, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Daniel Thwaites Plc (the "Company") - The Stafford Hotel
Further to the announcement made by the Company on 31 July 2009 following its
Annual General Meeting, the Company confirms that on 16 September 2009 it
completed the sale of The Stafford Hotel Limited ("SHL"), which owns The
Stafford Hotel, St James's Place, London, to Britannia Hospitality Limited for
an aggregate transaction value of [pounds sterling]77.5m paid in cash. The consideration is
inclusive of repayment of all outstanding debt owing by SHL to the Company
(other than trade indebtedness in the ordinary course) and is subject to
adjustment pursuant to a net debt and net current asset calculation of SHL as ...
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